Bharat Petroleum Corporation Limited (BPCL) announced the record date for its final dividend for the financial year 2023-24 (FY24) today
The company established Friday, August 9, 2024, as the record date. Shareholders registered in the company’s books on this date will be eligible to receive a final dividend of ₹10.5 per share for FY24.
A separate announcement will be forthcoming regarding the specific date of the Annual General Meeting (AGM) scheduled for August 2024. BPCL confirms that the dividend distribution will occur within 30 days of the AGM.
Dividend Eligibility and Record Date
The record date is a critical date that determines shareholder eligibility for the dividend payout. Only shareholders whose names appear in the company’s records on this specific date will be entitled to receive the dividend.
BPCL’s First-Quarter Results and Stock Performance
This announcement coincides with BPCL’s release of its first-quarter results for FY24 on July 19, 2024. The company’s reported profit for Q1 was ₹3,015 crore, reflecting a significant 71% decrease compared to the same period in the prior year. Revenue from operations, however, remained relatively stable at around ₹1.28 lakh crore.
The decline in profit is attributed to a combination of weaker gross refining margins (GRMs) and a rise in global crude oil prices. These factors impacted BPCL’s financial performance in the first quarter. On Friday’s trading session, BPCL’s stock closed at ₹304, representing a decrease of 4.5%.
